Amtrak 2013 Annual Report Download - page 84

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National Railroad Passenger Corporation and Subsidiaries (Amtrak)
Notes to Consolidated Financial Statements (continued)
1411-1359280 45
10. Income Taxes (continued)
Deferred income tax assets and liabilities were comprised of the following (in thousands):
September 30
2013 2012
Deferred tax assets:
Deferred gain on sale leaseback $ 25,749
$ 29,037
Capital leases 211,126 265,325
Bad debt reserve 1,077 903
Inventory reserve 15,898 19,381
Accrued vacation 35,489 34,744
Claims reserves 66,949 66,702
Pension and other postretirement employee benefits 402,159 513,869
Other accruals 43,187 33,822
Capitalized software 281 282
Net operating loss carryforward 2,365,336 2,260,460
Capital loss (rate security) 3,229 3,229
Gross deferred tax assets 3,170,480 3,227,754
Less: valuation allowance (154,551) (311,016)
et deferred tax assets 3,015,929 2,916,738
Deferred tax liabilities:
Fixed assets (3,013,148) (2,913,967)
Deferred rent (6,438) (5,945)
30t
h
Street Station (222) (324)
Gross deferred tax liabilities (3,019,808) (2,920,236)
N
et deferred tax liability $ (3,879)
$ (3,498)
Net operating loss carryforwards were $6.8 billion and $6.5 billion as of September 30, 2013 and
2012, respectively. These carryforwards will expire in various years through 2033.